By far the most profitable businessman during his age, Andrew Carnegie left his mark on industry, and profoundly impacted the expansion of business enterprise in America. Essentially, Carnegie rose from poverty to become one of the most influential, industrial tycoon’s in history by single-handedly building the American steel industry. During his time, Carnegie was known as being a prolific writer, but is most remembered for the entrepreneurial, and philanthropic career he created himself. By initiating numerous opportunities, consistently working hard, and being a fast learner, Carnegie was able to successfully build an empire of wealth not only for himself, but to greatly benefit America’s leading business industry we recognize today.…
Andrew Carnegie was an ambitious millionaire, who earned his way from rags to riches. How did he do it though? Did he cheat and deceive people, (Robber Baron), or did he earn his riches fairly (Captain of Industry). These are all frequently asked questions, and I hope this summary will give you some answers.…
He created a stronger type of steel that was not only the most effective, but the most efficient as well. Andrew Carnegie also had a strategy of his own. He believed that the only way to become a great businessman was to control monopolies and control the step of the process in materials. Carnegie definitely had a different side to him. He was a cruel businessman to his workers and a very kind philanthropist. He would poorly pay his workers, as well as leave them poorly housed. Carnegie was really never close to his workers and the wages that they had were very low compared to other steel industries. Nevertheless, he believed that "the man who dies rich, dies disgraced and a rich man should use his money for the benefit of others" (Youngs 33.) In Carnegies older years, he devoted himself entirely to his philanthropist's beliefs' after he sold his business. Carnegie built libraries around the world, but focused especially on the United States. He opened up galleries, museums, music halls, and technical schools. He also encouraged research and higher learning to others. Carnegie also established a donation to permanently seek an end to war. His donations totaled about 350 million…
He was a ‘hero’ in the sense that he gave away most of his money to establish many libraries, schools, and universities in America, the UK and other countries, as well as establish a pension fund for former employees.Carnegie felt that money is like manure, i.e., it does no good unless you spread it around. Aside from his well-known steel business that he sold to J.P. Morgan who formed US Steel, the philanthropic qualities of the man are most remembered. As Andrew Carnegie himself said on the subject of wealth: “Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community.”,“There is no class so pitiably wretched as that which possesses money and nothing else.”“I resolved to stop accumulating and begin the infinitely more serious and difficult task of wise distribution.”…
Gospel of Wealth: Carnegie’s philosophy that the millionaire had a duty to distribute wealth while still alive.…
Carnegie lists three ways how extra money (that is left behind) should be handled in America. First, Carnegie points out passing down wealth through heredity. He finds the act of leaving a fortune to the children is meaningless and not worthwhile. Carnegie does not agree with a wealthy man leaving his children helpless, but…
Who was Andrew Carnegie? Andrew Carnegie was a Scottish man that became an American industrialist. Moving to Pennsylvania at a young age, Carnegie started working in a textile factory. Carnegie started up a steel company that had multiple stages of production. The different stages of production that his company ran were transportation, manufacturing, and distribution. In the 1890’s Andrew Carnegie became a millionaire by having a lot of control over the steel industry. His steel factories were the most developed worldwide. Carnegie donated a lot of his money to different philanthropies such as giving to different towns to build libraries all over the United States. Andrew acted as a tyrant when running his companies. He had his companies working…
Adam Smith’s The Wealth of Nations is extremely similar in that it postulates that the market will run smoothly when men are left to their rational self to pursue their economic desires. The market only runs smoothly and wealth is only spread when the market is free of policies such as protectionist measures. The rational individual will understand that developing industry locally is more beneficial to himself and therefore the community in which he invests (The Wealth of Nations, 16). The government plays next to no role in the economy, the market regulated by the “invisible hand.” Thus protectionist measures and other forms of market interference began to be greatly looked down upon as inferences within the market, and interferences with…
For example, it was Carnegie’s belief that the wealthy should give back to society, and so he did. He stated in an essay, “Wealth,” that the responsibility of the wealthy man is to distribute his wealth for the benefit of the community. He strove to improve society by providing facilities such as “...parks, and means of recreation, by which men are helped in body and minds; works of art... and public institutions of various kinds, which will improve the general condition of the people,” (Pearson).Among these public institutions were schools and libraries; in fact, Carnegie’s funds helped found over 2800 libraries (). Carnegie felt that the true “Gospel of Wealth” was defined as “administering it [wealth] for the community far better than it could or would have done for itself.” That said, Andrew Carnegie was an altruistic man and used his riches not for “display or extravagance,” but rather to give back to society in the form of public facilities for people to cultivate better conditions for…
These men are Captains of Industry, because they have helped our society by donating lots of their money to different charities and organizations. For Carnegie, he has,“Donated more than $350 million to further public education, build over 2,500 libraries.” (Website) Now that people can get a better education, they can get a better job and then support their family. Plus, poor people can check out books and get a free education, because there are more libraries. That way, they can get a job, support their families, and not be as poor. Carnegie also, “Created the Carnegie Corporation of New York, endowing it with $125 million to support benefactions after his death.” This means that people can now have extra money to be given to organizations…
Success all starts from knowing yourself and making the right decisions for yourself. Andrew Carnegie, one of the richest people in history, was once a telegraph messenger boy who immigrated from Scotland. 40 years later, he owned the most extensive steel empire in the world. It is important to know who you are so that you can make the decisions crucial for your success, just like Carnegie.…
Andrew Carnegie, born in Scotland, came to the United States in 1848. Here he started with nothing and turned himself into a self-made man. He was in fact, one of the richest men if this era. In 1889 he wrote “The Gospel of Wealth”. In this essay he discusses philanthropy and explains that with money also comes responsibility. He stated that obedience [to the Gospel of Wealth] will one day solve the problem of the rich and poor, and will bring “Peace on earth, among men good will.” I agree with this statement because the “Gospel of Wealth” claims that everyone is free to make as much money as they can, however, they should not leave it to their heirs and should use it to help mankind.…
The “Gospel of Wealth” was written by Andrew Carnegie during the Gilded Age and Progressive Era. He was born in Scotland and immigrated to the United States in 1848. Carnegie had very little of a formal education but grew up in a family that believed in the importance of books and learning. Jumping from job to job, he became one of the wealthiest businessman in America. Achieving this by investing and buying stocks in promising ventures like iron mills and factories. Finally founding his own company known as the Carnegie Steel Company and revolutionizing the steel industry, he embodied the American Dream.…
This concept of social darwinism said that if you were born and raised poor, you would stay poor forever and would never be able to become rich. The first Document, Document B shows how society was separated in 1800s. It says that the poor people had it worse. In this document he comes across as arguing that he is rich and that it was better and he was better than everyone else. Carnegie is basically saying that social darwinism is a good thing. The second document, Document M, shows the 3 ways of what a man can do with his money when he dies. The first option of what you can do with your money is to leave it for your family. Carnegie thought that this option was the worst of them all. He believed that if you left your money for your children, then they would not know the value of it. He wanted them to work for their money and understand the hard work it takes. The second option was to leave your money for charity. This was also not the best option. Carnegie said that if you leave all your money for charity, you are basically saying that I should take my money with me, but if I can’t take it with me, I might as well just leave it. This is a nice gesture, but not really at the same time. The person could have been donating to charity while they were alive, rather than giving it becuase they have no use for it when they are dead. The best option that Carnegie believed in was to give your…
The people who have the power are the people with money, One reason why Andrew Carnegie was a hero was because of his influences on renovating the American steel industry which helped create the U.S a world power. Secondly, Andrew Carnegie was a hero is because he helped create jobs that employed many Americans. Finally, Carnegie was a hero is because he was one of the most influential philanthropists. He also brought new form of management control by integrating all suppliers of raw materials into one company (Doc 5). This helped by lowering the costs of manufacturing and selling steel goods at a fair price (Doc…